CINEVISTA Share price

Cinevista Communications was formed on Jan 1 1993 as a partnership firm. The partnership firm was converted into a private limited company under the Companies Act 1956 as Cinevista Communications Private Limited on May 7 1997. The company took over the business of the partnership firm Cinevista Communications.Part of the partners'' capital in the partnership firm "CinevistaCommunications" was converted into the initial Equity Capital of the Company when it was incorporated as a Private Limited Company.The company was converted into a public limited company with effect from December 20 1999 and the name was changed to Cinevista Communications Limited.Mr. Prem Krishen Malhotra and Mr. Sunil Mehta. both with a background in India''s film industry set up Cinevista.In 1985 Doordarshan ("DD") the Indian Government owned broadcaster (which until 1991 was the only TV Channel in India) called for tenders from parties interested in supplying programmes for particular slots on its national network for payment of a "Telecast Fee" to DD. In exchange programme producers were to be given free commercial airtime (FCT) to sell. Mr. Prem Krishen Malhotra and Mr. Sunil Mehta were amongthe initial producers to apply to DD. Their proposal to create a series of 21 stories over 28 episodes based on internationally renowned short stories and starring the leading talents of the Indian film industry was accepted by DD. "Katha Sagar as the series was called was screened at the 9:00 p.m. prime time slot on Fridays from April 1986.The next serial developed by Cinevista was "Zindagi" a mini soap of 26 episodes starring film actress Ms. Sharmila Tagore screened on Mondays in the 9:00 p.m. prime time slot on DD from November 1987. The programme was well received and is also currently being re-run on STAR Plus.A second series of "Katha Sagar" of 13 stories over 16 episodes was made and broadcast in 1989 on Saturday nights at 9:00 p.m. over DD''s National network. The two programmes viz. "Katha Sagar" and Zindagi established Cinevista as a producer of quality television programmes. It subsequently ventured into other genres of television programming.The next programme from Cinevista for DD was "Gul Gulshan Gulfam" which was set in the backdrop of Kashmir and was well received.The next soap from Cinevista was called "Junoon". "Junoon" wasCinevista''s production for DD''s new channel called the Metro Network. The programme which was first aired in May 1993 ran till September 1998 for five and a half years.It was the amongst the first DD soap dubbed into a regional language (Tamil) for re-broadcast on DD''s regional language service and also to telecast two new episodes a week.In November 1995 Cinevista launched a new series - "Ghutan" - which ran on the Thursday 9:30 p.m. slot of DD''s National Network for 39 episodes. Thereafter "Ghutan" was broadcast on STAR Plus from October 1996 to October 1997 on Thursdays at 8:30 p.m. for 52 episodes. Ghutan the story of an oppressed woman portrayed by Ms. Smita Jaykar was among the top rated programmes during its run on STAR Plus. Thereafter it was again screened by STAR Plus as a weekday soap in the 2:30 p.m. slot in 1998 retitled as "Manzil".In 1996 Cinevista launched another programme "Saahil" whichcommenced broadcast on DD''s Metro channel at 8:30 p.m. on Mondays. "Saahil" finished its run in July 1998 after 108 episodes.Cinevista has expanded its product offerings across genres for major satellite channels in addition to Doordarshan.The capacity facility creation started from the time the Company first started production of its television programmes in 1985-86. Thereafter on a regular basis the Company has been adding to the production equipment (cameras lights etc.) post production equipment (editing machines dubbing machines music recording equipment etc.) vehicles (including generator trucks) and premises by ploughback of retained earnings and have thus over a period of 14-15 years reached the current capacity.The Company has not raised any Term Debt from any Financial Institution or Bank at any time. There have been no time or cost over-run in setting up projects including the proposed project. There have been no defaults/reschedulement with financial institutions/banks or conversion of loans into equity or any lock-out/strikes.